AUDUSD – Buy Aussie Now

AUDUSD – Buy Aussie Now


Buy Aussie

The AUD has been trending sideways against the greenback since March testing 0.92 as support and resistance around the 0.9430 mark. This has formed a great box play, where we expect the first initial target for the AUD to be around the 0.9660 mark, though expect it to test the 50% retracement level.

Traders can begin taking positions now, as the AUD failed to test 0.92 again before rallying. Depending on you risk appetite either open your full position here or take a half position and add to it upon AUD closing above 0.9430. Stops can be placed either below 0.93 or below 0.92, depending on how much you're willing to risk on this trade.

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